How many days do YOU PIF before statement cut?

How many days do YOU PIF before statement cut?

Hey guys! So I think I'm going to play around with the whole "one card reports small utilization" to see if this will result in a rise in my scores next month! the question of the night is: when do YOU PIF on the cards you don't want to report?? What is the recommended time frame to PIF before statement cut if I only want to make one payment a month to my CC? Any companies do an odd reporting, like mid-statement? Feel free to input your personal experiences based on my cards and their affiliate companies, or any other companies you have! Think I'll just have the small utilization report on my JCPenney!

Re: How many days do YOU PIF before statement cut?

daybreakgonesXe wrote:

I only want to make one payment a month to my CC

If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.

Re: How many days do YOU PIF before statement cut?

brother7 wrote:

daybreakgonesXe wrote:

I only want to make one payment a month to my CC

If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.

Great advice! I just checked my Equifax report to see when each company reports each account and marked it down in my calendar. But I agree, paying a day or two before the due date on both my statement and current balances will result in the $0 reporting for the next month as long as I don't spend between the due date and statement cut, and then from there it's always the current account balance to keep at it. I'm sure after a couple go-rounds I'll have it down to a science! Now, it's just a waiting game for my free annual report to see when Transunion and Experian receive information from my CC companies...

Re: How many days do YOU PIF before statement cut?

brother7 wrote:

daybreakgonesXe wrote:

I only want to make one payment a month to my CC

If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.

depends which bank/cu you send it from.

i have to set it up 3 buisness days ahead of time.

and do the math if i have any pending charges so there is no surprises.

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Many factors affect your FICO Scores and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating.
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IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.